Mission Produce, Inc. $AVO Shares Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in Mission Produce, Inc. by 31.7% during the first quarter, now holding approximately 0.37% of the company valued at $2.79 million.
• Other institutional investors, such as PNC Financial Services and GAMMA Investing LLC, have also significantly boosted their holdings in Mission Produce, contributing to a total of 63.57% of the stock being owned by hedge funds and other institutional investors.
• Mission Produce reported quarterly earnings of $0.12 EPS, surpassing analyst expectations, with a revenue increase of 27.8% compared to the previous year.

Trexquant Investment LP raised its holdings in Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 31.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,020 shares of the company's stock after buying an additional 64,045 shares during the period. Trexquant Investment LP owned about 0.37% of Mission Produce worth $2,788,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AVO. Comerica Bank raised its position in shares of Mission Produce by 31.3% during the 1st quarter. Comerica Bank now owns 29,177 shares of the company's stock worth $306,000 after purchasing an additional 6,962 shares during the last quarter. AlphaQuest LLC lifted its position in shares of Mission Produce by 1,513,200.0% during the first quarter. AlphaQuest LLC now owns 15,133 shares of the company's stock worth $159,000 after purchasing an additional 15,132 shares during the last quarter. Martingale Asset Management L P increased its stake in shares of Mission Produce by 178.0% in the first quarter. Martingale Asset Management L P now owns 64,969 shares of the company's stock valued at $681,000 after purchasing an additional 41,601 shares during the period. EntryPoint Capital LLC increased its stake in shares of Mission Produce by 115.4% during the first quarter. EntryPoint Capital LLC now owns 41,516 shares of the company's stock valued at $435,000 after acquiring an additional 22,242 shares during the period. Finally, Algert Global LLC boosted its holdings in Mission Produce by 221.5% during the first quarter. Algert Global LLC now owns 251,784 shares of the company's stock worth $2,639,000 after buying an additional 173,472 shares in the last quarter. Hedge funds and other institutional investors own 63.57% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded shares of Mission Produce from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Mission Produce presently has a consensus rating of "Moderate Buy" and an average target price of $15.50.

Insider Activity

In related news, CFO Bryan E. Giles sold 3,500 shares of Mission Produce stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $11.43, for a total value of $40,005.00. Following the sale, the chief financial officer owned 131,062 shares in the company, valued at $1,498,038.66. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 35.41% of the company's stock.

Mission Produce Price Performance

Shares of Mission Produce stock traded down $0.08 during midday trading on Monday, hitting $12.56. 735,295 shares of the company traded hands, compared to its average volume of 326,068. The stock has a market cap of $886.63 million, a price-to-earnings ratio of 25.24 and a beta of 0.57. Mission Produce, Inc. has a 12 month low of $9.56 and a 12 month high of $15.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.23 and a current ratio of 1.98. The firm's fifty day moving average price is $12.29 and its 200-day moving average price is $11.35.

Mission Produce (NASDAQ:AVO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.09. Mission Produce had a net margin of 2.63% and a return on equity of 7.82%. The firm had revenue of $380.30 million for the quarter, compared to the consensus estimate of $296.15 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The business's revenue was up 27.8% on a year-over-year basis. As a group, sell-side analysts forecast that Mission Produce, Inc. will post 0.34 earnings per share for the current year.

Mission Produce Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.